Floatation the 'natural next step', says AJ Bell

In a statement, the group, which operates in both the advised and direct-to-consumer markets, said the IPO would include a retail share offer that would be available exclusively to AJ Bell customers resident in the UK. "A listing will give investors, including AJ Bell customers, the opportunity to participate in AJ Bell's future success," it added. "The group does not intend to raise new capital as part of the IPO given its financial strength, highly profitable business model and debt-free balance sheet." AJ Bell also confirmed its two largest shareholders - co-founder and chief execu...